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Turkey: Migros plays down Walmart talk

Migros Ticaret has tried to play down reports that Walmart is set to pick up an 80% stake in the firm, saying the speculation was caused by a periodic review of investments of its private equity owner, BC Partners. The group was forced to respond after its shares jumped by nearly 9% yesterday, following reports that Walmart was in talks with Migros over a potential deal.

In a statement, Migros noted: “As a private equity company, BC Partners periodically assesses options for various of its investments, including Migros. The present talks are within the framework of BC Partners' ordinary business flow”.

Interestingly, Migros did not mention Walmart, either to confirm or deny the report. It added that it would make future statements as and when it deemed them necessary.

Source: kamcity.com
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